A prominent supporter of Bitcoin, Michael Saylor, recently held a fireside chat at Bitcoin Park where he reaffirmed his opinion that the cryptocurrency’s value will rise significantly in the future. He talked about Bitcoin as one of the best ways to manage your money for the long run.
MicroStrategy has built up an enormous BTC reserve under Saylor’s direction, as of August 1, the company held about 226,500 BTC. “I think we see great signs of BTC being used all over the world,” Saylor said at the event.
MicroStrategy’s Bitcoin Acquisition Strategy
BTC is worth $56,000 at the moment, so one billion dollars is equal to about 17,857 BTC. This price shows how strong MicroStrategy’s acquisition strategy is. Saylor has explained this strategy as a way to protect against inflation and a better way to keep funds safe than standard assets.
MicroStrategy recently said it wants to sell its Class A shares to raise $2 billion. This is in line with its business strategy. The funds, which will be used to make more BTC purchases and handle debt, show that the company is committed to its cryptocurrency-focused approach.
The Virginia-based company, which already had the most BTC in the public eye, told the SEC on August 1 that it was going to follow this plan.
MicroStrategy wants to take advantage of Bitcoin’s strong performance, but the date of the share sale has not been set. Saylor has said over and over that the company has no plans to sell its Bitcoin holdings any time soon and will continue to buy and hold it.
